October 25, 2023
Mandatory e-invoicing legislation is rapidly sweeping across the world, and businesses require a solution to remain compliant. In Europe, Italy led the charge, implementing mandatory e-invoicing in 2019. Poland and Romania are following suit, with these countries authorised by the Council of the European Union to deviate from the EU VAT directive and implement mandatory e-invoicing imminently. However, this isn’t just in the case in Europe – countries in Latin America, Asia-Pacific and the Middle East have been successfully using e-invoicing for years and the practice is now well-established.
With e-invoicing implementation gaining pace globally, Vertex's strategic partnership with Pagero addresses these concerns by delivering a single global solution for indirect tax compliance.
Empowering Vertex Customers
As the indirect tax compliance and reporting landscape evolves, it’s imperative that businesses feel equipped and future-proofed in their approach to e-invoicing and any new requirements that may be instituted.
Yet, integrating new pieces of software and platforms to meet new regulatory needs can be time-consuming, complicated and costly. Typically, large multinational businesses have taken a reactive approach to new regulations and tax obligations – resolving them on a country-by-country basis and by implementing disconnected solutions and processes. As Pagero notes, this has resulted in the deployment of divergent software for some, frequently involving misaligned data and overlapping processes.
As I’ve mentioned in a previous blog, the advantages of e-invoicing are undeniable, as are the growing mandates surrounding its increasing popularity. Businesses adopting this practice can expect streamlined operations, accelerated cross-border trade and enhanced compliance.
With Vertex e-Invoicing, partnering with Pagero, businesses will have the ability to ensure continuous indirect tax compliance and increased efficiency in their invoicing lifecycle – all within one centralized returns and reporting platform. Our joint offering enables customers with real-time reporting and other critical features such as access to direct data to Continuous Transaction Controls (CTC) and Peppol for electronic B2B and B2G compliant document and data exchange.
Understanding updates to e-invoicing legislation are constantly evolving, I will continue to provide updates as they unfold. To learn more about Vertex e-Invoicing, partnered with Pagero, visit our solution page.
Please remember that the Tax Matters provides information for educational purposes, not specific tax or legal advice. Always consult a qualified tax or legal advisor before taking any action based on this information. The views and opinions expressed in Tax Matters are those of the authors and do not necessarily reflect the official policy, position, or opinion of Vertex Inc.